Folsom real estate shows stability in a storm…
September 19th, 2008 Categories: Real Estate News, Real Estate Trends, Sacramento Home Buyers, Sacramento RE Stats, Sacramento Real Estate
So even though all we hear in the media is the bad news about the housing and equity markets, life here in Folsom goes on! We are still writing contracts and closing escrows! Active, Stable, Predictable is how you can describe real estate here in Folsom. My team and I have eleven active escrows and at least that many offers out on homes with buyers who have heard all the bad news, all the negativity and still want to buy the house of their dreams! Folsom is still adding jobs and office space!
Elliott Homes has been selling an average of 9 lots per month all year up on their custom home site neighborhood of Terrazzo Estates. Jim Greer, of Elliott, told me that probably eighty percent of the lots go to cash buyers, many who have no immediate plans of building. He said that many of his buyers are in the medical profession and understand what Kaiser coming to our community will mean for the demand of those lots! Think about that; these are smart people (you would call this smart money), betting that we are close enough to the bottom, and that they will definately make more money on Folsom dirt than the Stock Market!!
Jim also told me, with some prodding, where he is finding these buyers; he told me “Forth, all my buyers come from the same place… Heaven!”
